One of the employee took a loan from bank for acquisition of home and he will get possession after 2 years. But his EMI already started.
Can he allow for deduction of interest under home loan for Rs. 150000/- and U/s 80C for installment paid in current year?

Can Assessing Officer issue a notice u/s 142(1)(ii), after the end of one year from the end of relevant assessment year (i.e. once the return is time barred), requiring the Assessee to file the return of income?

Please give reference to any specific section or case law if possible

Here is the Case.

An agricultural land is purchased in the year 1961 for Rs. 3000/-. Later it is registered for Rs. 2 Lacs in the year 1981. In 2007 it is sold for Rs. 55 Lacs. In 2008 the same land is registerd for Rs. 1 Crore.
For the above case which Amount should be considered for calculation of Capital gains? whether Rs. 55 Lacs is to be considered or Rs. 1 Crore? Please let me know...

Thank you.

X company incurrs seminar & training expenses, which is subsequently recovered from its group company.So is X company liable to pay FBT on Seminar & Training Expenses ???????

i purchae a land of rs 500000/- during the year for cunstrction of building for business purpose but during the year receipts are received rs 10 lakhs & total work is completed of rs 50 lakhs is equles to 25% of the project cost receipt is less than 40 lakhs tax audit is applicable or not
wheter land is transferred to p & l a/c by % wise or total cost

TDS FOR LEASE LINES FALLS UNDER THE CATEGORY PROFESSIONAL / CONTRACT - ?

Dear Experts
Please resolve the query regarding Section 194C.
One of the Pvt Ltd company made Advance Payment of Rs 10 crores on 01.04.2007 to an advertisement agency for availing Advertisement services from advertisement agency. Tds has been deducted on Rs. 10 cr and deposited as per law. During the fy 7-8 total advertisement bills raised by adv agency are Rs 9 crores. Now Whether TDS need not be deducted on Rs. 1cr bills to be raised in next financial year or whether refund of tds can be obtained for extra tds deposited w.r.t fy 7-8. what would be solution if adv agency has returned rs 1 cr during the same fy.

As E - Payment of Tax is mandatory from 1.04.2008 , than Suppose I have deducted TDS in month of March 2008 and want to deposit in april is to be made by E- Payment or can I made offline ?

Thus TDS or Tax of F.Y. 2007-08 paid on or after 1.04.2008 can be paid offline ?

As E - Payment of Tax is mandatory from 1.04.2008 , than Suppose I have deducted TDS in month of March 2008 and want to deposit in april is to be made by E- Payment or can I made offline ?

Thus TDS or Tax of F.Y. 2007-08 paid on or after 1.04.2008 can be paid offline ?

DEAR SIR /MAM

PAYMENT MADE TO CONCOR(CONTAINER CORPORATION OF INDIA LTD.)FOR CONTAINER SERVICE ICD TO MUMBER PORT IS APPLICABLE ON TDS U/S 194C AND ANOTHER SERVICE PROVIDER HIND TERMINAL PVT LTD. IS IN SAME CARTGERY.

FORTHER CONCOR IS PSU COMPANY AND HOLDING EQUITY GOI AND ANOTHER HIND TERMNIAL IS PVT LTD. FIRM

THANKS

GOLDY